Welcome to our dedicated page for CF Bankshares news (Ticker: CFBK), a resource for investors and traders seeking the latest updates and insights on CF Bankshares stock.
CF Bankshares Inc. (NASDAQ: CFBK) is the holding company for CFBank, National Association, a nationally chartered boutique commercial bank serving closely held businesses and entrepreneurs. This news page aggregates company-issued press releases and other coverage so readers can follow developments affecting CFBK stock and the CFBank franchise across its core Midwest metro markets.
According to its disclosures, CF Bankshares Inc. regularly reports quarterly and year-to-date financial results, including net income, pre-provision, pre-tax net revenue (PPNR), return on average equity (ROE), return on average assets (ROA), net interest margin (NIM), efficiency ratio, deposit trends, and asset quality metrics. Earnings releases also discuss loan and lease portfolio composition, construction lending activity, residential mortgage loan sales, and changes in noninterest income and expense.
Investors can also expect capital management and shareholder-focused news, such as announcements of quarterly cash dividends on common and Series D preferred stock, dividend increases, and updates on the company’s stock repurchase program, including board approvals and extensions. The company has additionally highlighted its inclusion in the Russell 3000 Index in its news flow.
Other updates may cover strategic and organizational developments, including the recruitment of experienced commercial banking leaders in key regions, information provided in connection with annual meetings, and commentary from management on commercial loan production, deposit mix, and competitive positioning in its five primary metro markets.
For readers tracking CFBK news, this page offers a centralized view of CF Bankshares Inc.’s reported performance, capital actions, and banking initiatives. Reviewing the sequence of releases can help users understand how management describes the evolution of the commercial bank, its lending focus, and its approach to serving closely held businesses and entrepreneurs over time.
CFBank has signed a purchase agreement with Consumers National Bank for two of its Ohio branches in Wellsville and Calcutta, involving approximately $100 million in deposits. Consumers will compensate CFBank with the net book value and a 1.75% deposit premium on the average daily deposits.
This strategic move is expected to enhance Consumers' market share to 12.5% in Columbiana County, while CFBank aims to focus on core markets. The transaction awaits regulatory approval and is projected to close in the second quarter of 2021.
CF Bankshares Inc. (CFBK) has appointed John J. Catalano as President of CFBank Equipment Finance. With over 30 years of industry experience, Catalano will lead efforts to establish a middle-market and small-ticket equipment finance operation, enhancing services for commercial businesses. His background includes executive roles at leasing firms and military service. The bank aims to expand its Equipment Financing services to create a national platform, complementing its existing Commercial Banking operations. CFBank operates in four major Ohio markets, focusing on personalized business banking.
CF Bankshares Inc. (NASDAQ: CFBK) reported strong third-quarter financial results for 2020, with net income reaching $10.2 million, a remarkable 289% increase from Q3 2019. The company declared a quarterly dividend of $0.03 per share and experienced significant growth in book value per share, now at $15.68. Noninterest income rose substantially by over 611% due to increased loan sales, while net interest income increased 34% year-over-year. Despite the pandemic's challenges, loan payment deferrals decreased significantly to $24 million, indicating improved credit quality.
CF Bankshares Inc. (NASDAQ: CFBK) reported record financial results for Q2 2020, with a net income of $10.1 million, a 342% increase year-over-year. PPNR reached $15.8 million, up 453%, with ROA at 3.70% and ROE at 47%. Total assets exceeded $1 billion, and book value per share rose to $14.14. The company funded $126.2 million in PPP loans to support 558 borrowers. Noninterest income surged by 674% to nearly $20 million, largely from mortgage lending. The provision for loan losses increased by 43% to $3.1 million due to economic stresses from COVID-19.
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Central Federal Corporation (NASDAQ: CFBK) announced the resignation of John W. Helmsdoerfer, CEO and CFO, effective July 8, 2020, for personal reasons. He will assist with the transition. President Timothy O'Dell will temporarily take on financial responsibilities. The Board will conduct a search for a new CFO. The company confirmed no disagreements or operational issues related to Helmsdoerfer's departure. Established in 1892, CFBK specializes in personalized banking services, operating across major Ohio cities.